The story of the 1983 America's Cup challenge, where the Australian team financed by business tycoon Alan Bond, finally wrests the cup from the New York Yacht Club, after an unbroken 132 year winning streak.
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A couple move to Sydney from Melbourne, and soon become lured by the bright lights of the big city. Colin, the scriptwriter husband, is corrupted by his editor and then falls for the girlfriend of his writing partner, while Colin's wife Kate begins to lose sight of her ideals in a new world of hustlers and cynics.
